Homework answers / question archive / The following data is a hypothetical short-run production function: Hours of labor Total Output Marginal Product 0 _ _ 1 100 100 2 _ 80 3 240 _ The production function illustrated in the table: a) Does not incur diminishing marginal returns because the marginal product is positive for each unit of labor employed, b) Incurs diminishing marginal returns beyond the second unit of labor, c) Incurs diminishing marginal returns beyond the third unit of labor, d) Incurs diminishing marginal returns beyond the first unit of labor

The following data is a hypothetical short-run production function: Hours of labor Total Output Marginal Product 0 _ _ 1 100 100 2 _ 80 3 240 _ The production function illustrated in the table: a) Does not incur diminishing marginal returns because the marginal product is positive for each unit of labor employed, b) Incurs diminishing marginal returns beyond the second unit of labor, c) Incurs diminishing marginal returns beyond the third unit of labor, d) Incurs diminishing marginal returns beyond the first unit of labor

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The following data is a hypothetical short-run production function:

The production function illustrated in the table:

a) Does not incur diminishing marginal returns because the marginal product is positive for each unit of labor employed,

b) Incurs diminishing marginal returns beyond the second unit of labor,

c) Incurs diminishing marginal returns beyond the third unit of labor,

d) Incurs diminishing marginal returns beyond the first unit of labor.